142
ANNUAL REPORT 2016
NOTES TOTHE FINANCIAL STATEMENTS
30 JUNE 2016
(Continued)
18. SHARE CAPITAL (continued)
Accordingly, the authorised share capital of the Company was subdivided from RM250,000,000 comprising 500,000,000 ordinary shares of
RM0.50 each to RM250,000,000 comprising 1,000,000,000 ordinary shares of RM0.25 each to facilitate the implementation of the Share Split.
The holders of ordinary shares are entitled to receive dividends as and when declared by the Company and are entitled to one (1) vote per
ordinary share at general meeting of the Company as prescribed in the Articles of Association of the Company. All ordinary shares rank pari
passu with regard to the residual assets of the Company.
19. RESERVES
Group
Company
2016
RM’000
2015
RM’000
2016
RM’000
2015
RM’000
Non-distributable
Available-for-sale reserve
(37)
(12)
-
-
Exchange translation reserve
7,715
3,745
-
-
7,678
3,733
-
-
Distributable
Retained earnings
196,984
182,211
8,193
9,156
204,662
185,944
8,193
9,156
(a)
Available-for-sale reserve
The reserve arose from gains or losses of financial assets classified as available-for-sale.
(b)
Exchange translation reserve
The exchange translation reserve is used to record foreign currency exchange differences arising from the translation of the financial
statements of foreign operations whose functional currencies are different from that of the presentation currency of the Group. It is also
used to record the exchange differences arising from monetary items which form part of the net investment of the Group in foreign
operations, where the monetary item is denominated in either the functional currency of the reporting entity or the foreign operation.
(c)
Treasury shares
In the previous financial year, 507,000 treasury shares held as at the end of the financial year 2014, were resold to the market. The
total consideration received was RM2,712,151 (net of transaction costs of RM9,722) at an average price of RM5.37 per ordinary share.
No purchase, resale or cancellation of the Company’s own shares was carried out under the Shareholders’ Authorisation 2015 during
the financial year 2016.
